Financing for bikes

Replies to This Discussion

Permalink Reply by Duppie on August 31, 2010 at 12:29pm

Make sure to read this ACA article. It gives a rundown of all touringbikes under $1500 available in the US.

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Permalink Reply by dan brown on August 31, 2010 at 1:40pm

RE :
page=2&commentId=2211490%3AComment%3A229938&x=1#2211490Comment229938>

My understanding of that type of insurance is that it only covers if your bike is stolen from your home/apt, is this correct?


No.

from what I recall - things that are 'normally' in your house (golf clubs, for example) are covered under
your dwelling policy *even if* they are stolen from your car, etc. so if you have a fancy fur coat
or jewelry (Aaron, are you there ?) and it gets stolen from your cruise ship - it is still covered under
your policy : not where it was stolen from.

DB

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Permalink Reply by Ian on August 31, 2010 at 3:37pm

Sorry to read about your stolen bike, Jami.

Check your credit cards! Some of the card issuers offer some protection against theft, loss, damage... if the item was purchased within a certain time frame. For a bike purchase this seems like a good back-up insurance policy.

not to get too far afield of the thread, but Kevin and Howard are right, of course - I had an issue and chose not to make a Homeowner's claim realizing the couple of thousand it would have reimbursed me was a loss after rate increases and drop risk.

H3N3 said:

Partially agree.
If I had renter's insurance I would keep a low deductible and claim a stolen bike. Not the end of the world if your rate goes up (or if you;re cancelled.) In regard to homeowner insurance-- I've heard (from insurance folks) that "2 claims you're dropped" is standard post 9/11, so I keep a high deductible and wouldn't think of using it for anything short of my meth lab blowing up. Homeowner's insurance is a requirement of mortgagers, renter's is not.

Kevin Conway said:

Homeowner's and renters' policies should typically be reserved for disaster insurance; e.g. the meth lab in the basement blows up and the entire contents of your home are lost, kinds of things. Insurance companies are in the business of collecting premiums and investing that premium income to expand their balance sheets. Paying out claims is bad for their business model. People who make claims against their policy get a bad "claims history," and are subject to higher rates and/or cancellation. If you have the kind of relationship with your agent which permits you to make a discreet inquiry, please do so before making the claim.

Ruben Dario said:

My understanding of that type of insurance is that it only covers if your bike is stolen from your home/apt, is this correct?

jamimaria said:

To everyone, if you can, make sure that you get renters or homeowners insurance. I know that I would be pretty devastated without it.

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